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If a taxpayer had filed a form 5500ez one year and did not…

Customer Question

If a taxpayer had...

If a taxpayer had filed a form 5500ez one year and did not the second because their taxpreparer was in the hospital and they were not aware this was a yearly requirement and their account was at the at or near where they had to file what could be reasonable cause?

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Is not knowing you need to file a form 3520 for foreign gifts enough to establish reasonable cause? Plan to voluntarily disclose after finding out the requirement. I did my taxes myself on Turbo Tax, … read more

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Hi, I am yet to file my US Tax this year which I am going to do pretty soon. Along with my Tax I need to file my FBAR as well as I have Foreign Bank account in India which had a balance of more than $… read more

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I have received a gift of over 100,000 in 2009 from a foreign individual, and just found out that I need to file form 3520 to report the gift. There is a high penalty involved in the late reporting, b… read more

Question: A taxpayer mailed thru regular mail form 5500EZ for 401-K plan in time; the Plan Assets are less than $ 100,000. The DOL claims not to have received the mail and the client sent them a copy … read more

We put a total of $159,000 in a 529 plan for our daughter, who will enter university in August 2011; the contributions were made in 2002, 2003, 2007, and 2008. I have never filed a 709 form--I did not… read more

My mother (US citizen) was working in Japan for many years and accumulated $300,000.00 in savings. She transferred this money to her account in the USA to purchase a house a little over a year ago. Th… read more

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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.